Adaro Energy Posts US$417 Million Net Profit in 2018

Jakarta: PT Adaro Energy TBk recorded a net profit of US$417 million in 2018, declining by 13 percent compared to the previous year.
 
The mining company posted a net revenue of US$3.62 billlion last year. It increased by 11 percent compared to the previous year.
 
“We managed to deliver on our guidance as we continued to focus on operational excellence and efficiency. We achieved production growth, maintained our robust margins and executed our strategy for long-term growth in each of our business pillars. Our acquisition of Kestrel has further expanded our product portfolio and opens up opportunities for the Adaro Group," Adaro Energy president director and chief executive officer Garibaldi Thohir said in a press release on Monday, March 4, 2019.

"We are committed to create value for our stakeholders and further emphasize our commitment to the nation through royalty and tax contribution as well as communities empowerment. Our grant match scheme under our CSR program underlines Adaro's strong commitment to be a responsible corporate citizen and each of our business pillars is committed to support the nation," he added.
 
We are aware of the cyclical nature of coal, are mindful of the market headwinds and have accounted that in our 2019 guidance.” he concluded.
 
According to a report from the Central Statistics Agency (BPS), Indonesia recorded a trade deficit of US$1.16 billion in January 2019. It increased by US$0.13 billion compared to the previous month.
 
Indonesia's export value reached US$13.87 billion last month. It declined by 3.24 percent compared to the previous month.
 
The country's import value reached US$ 15.03 billion last month. It declined by 2.19 percent compared to the previous month.
 
In the meantime, Indonesian economy grew by 5.17 percent in 2018. It was Indonesia's highest annual growth in five years.
 
Indonesian economy grew by 5.18 percent in the fourth quarter of 2018,. The growth was slightly stronger than earlier expectations.
 
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